Advance Auto Parts Inc. (NYSE:AAP)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Wednesday. They presently have a $175.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 19.42% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Vetr cut Advance Auto Parts from a “hold” rating to a “sell” rating and set a $150.50 price objective for the company. in a research note on Tuesday, June 28th. Argus reiterated a “buy” rating and issued a $185.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research note on Tuesday, June 21st. Susquehanna began coverage on Advance Auto Parts in a research note on Thursday, August 25th. They issued a “neutral” rating and a $158.00 price objective for the company. Royal Bank Of Canada dropped their target price on Advance Auto Parts from $180.00 to $174.00 and set an “outperform” rating on the stock in a report on Thursday, September 8th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $171.00 target price (up previously from $155.00) on shares of Advance Auto Parts in a report on Thursday, August 18th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $170.08.
Shares of Advance Auto Parts (NYSE:AAP) traded up 1.58% on Wednesday, hitting $148.85. The stock had a trading volume of 201,850 shares. Advance Auto Parts has a 12 month low of $131.59 and a 12 month high of $201.24. The firm has a 50 day moving average of $153.76 and a 200 day moving average of $157.16. The stock has a market cap of $10.95 billion, a P/E ratio of 24.04 and a beta of 1.02.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 16th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.12 by $0.22. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Advance Auto Parts had a return on equity of 21.90% and a net margin of 4.80%. Advance Auto Parts’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.27 EPS. On average, equities analysts forecast that Advance Auto Parts will post $7.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 23rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.88%.
In related news, EVP Charles E. Tyson bought 633 shares of the stock in a transaction dated Monday, August 29th. The stock was acquired at an average price of $157.75 per share, for a total transaction of $99,855.75. Following the completion of the purchase, the executive vice president now owns 18,397 shares in the company, valued at $2,902,126.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey C. Smith acquired 70,000 shares of the stock in a transaction on Friday, September 2nd. The shares were acquired at an average price of $158.77 per share, with a total value of $11,113,900.00. Following the purchase, the director now owns 1,271 shares in the company, valued at $201,796.67. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock worth $103,000 after buying an additional 154 shares during the period. Kanaly Trust Co raised its stake in shares of Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock worth $116,000 after buying an additional 285 shares during the period. Global X Management Co. LLC raised its stake in shares of Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock worth $117,000 after buying an additional 347 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock worth $121,000 after buying an additional 29 shares during the period. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Advance Auto Parts by 159.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,041 shares of the company’s stock worth $168,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 98.53% of the company’s stock.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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